Gokaldas Exports gets a Year End “Pop”

One of the open secrets of the fund management business is the desire for stocks to have high prices at the year-end as this is used for measuring fund performance and hence the bonuses of the fund managers

Gokaldas Exports, which is approximately 40% owned by Blackstone, offers an amusing lesson

Yesterday, they made an announcement to the Stock Exchanges that they have uploaded a “Management Presentation” on their website.

The deck had this very interesting slide on Q4 revenues/profits…this on the last few days of Q4


The net result is that the stock has hit the upper circuit today.

Mission accomplished.

Why Morningstar Awards remind me of Govinda

Hat Tip : Amit Arora

Morningstar had an Awards Function recently where it dished out awards to Mutual Funds in various categories.

Mirae Asset Emerging Bluechip was the winner in the Equity Small & Mid-Cap categories.

Its Fund Fact Sheet for Feb 2017 makes for interesting reading:


How can a Mutual Fund whose top 10 holdings include 4 stocks in the Nifty be classified as “SmallCap/Midcap” ?

Or maybe the Fund has these stocks in the perverse hope they will go from large cap to small cap !

Anyways, these Awards remind me of a very memorable interview of Govinda.

Once Govinda, the once very popular Bollwood star, was asked by an interviewer:

Q:Aap Ko ab tak koi Filmfare award kyon nahi mile?

He replied: Lekin maine paise bhi toh nahi diye !